New York Markets After Hours

Fitch removes Northern Trust from rating watch

JohnSpence

BOSTON (MarketWatch) -- Fitch Ratings on Tuesday removed the issuer default rating of Northern Trust Corp.
NTRS, +0.54%
from rating watch negative. Northern Trust "has raised sufficient sources of cash at the parent to provide a high level of financial flexibility to meet expected needs and allow for unexpected events," Fitch said in a statement. Chicago-based bank Northern Trust said on Tuesday that it priced a 15 million share common stock offering at $50 a share, raising about $750 million. The company also said it launched a $500 million senior note offering.

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